Small Business Secrets

News: More young people aspiring to be entrepreneurs

More than a quarter (26%) of young people want to run their own business once they leave school, a new survey has found.

The Barclays Youth Barometer questioned 2,000 14-25 year olds on their aspirations for the future.

If these budding entrepreneurs realise their ambitions, innovation and productivity across the country could be boosted. However, 72% of respondents said they don’t believe they will achieve their work ambitions. A further 61% said they believe it will be harder to get a job on leaving school in the next six months compared to now.

The survey also investigated the value of work experience. More than four in ten (42%) of young people who had undertaken a work experience placement said it was very useful. A further 11% said businesses can help them realise their ambitions by providing opportunities for work experience.

The survey marks the launch of Barclays’ LifeSkills programme, which aims to equip one million young people with the skills they need for work by 2015.

Ashok Vaswani, Chief Executive, Barclays Retail and Business Banking said: “We understand that only by equipping young people with the right skills and quality work experience will we enable young people to reach their potential. It’s why businesses, government, and schools have to work in partnership to achieve lasting improvements in the journey young people take from school to work.”